Tenants in the capital are paying almost £500 a year more if they rented in August compared to July 2014. The average advertised rent in Greater London increased by £41 (1.84%) per month in August, reaching £2,417 per month, making the annual accumulation of increased rent almost £500 per year more. Greater London continues to be the highest performing region in Britain, a trend which is not expected to change in the coming months.

Since average advertised rents in Great Britain exceeded £1,000 per month in June this year, they have continued to rise steadily. The average advertised rent for Great Britain climbed to £1,034 per month in August, which is an increase of £64 per month when compared to the same time last year, and a £5 per month rise within the last four weeks.

All regions in the North of England experienced a fall in average advertised rents in August with the North East, Yorkshire & Humber and the North West all recording the highest monthly decreases of 1.28%, 1.14%, and 1.13% respectively.

However, the rental market in Scotland has continued to see substantial increases. Average advertised rents reached £739 per month in August, a 9.12% or £61 increase on the previous year.